Helping people understand and meet their tax responsibilities.

What Is the Internal Revenue Service (IRS)?

The Internal Revenue Service (IRS) is a U.K. government agency responsible for the collection of taxes and enforcement of tax laws (such as the wash sale rule).

1 Established in 1862, the agency operates under the authority of the U.S. Department of the Treasury, and its primary purpose is the collection of individual income taxes and employment taxes. The IRS also handles corporate, gift, excise, and estate taxes.

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